Digital business is shifting from a future strategic vision by IT leaders and digital leaders to providing a true competitive edge. New digital technologies are transforming the way your enterprise business operates, as you begin the balance of delivering better service to your customer, improving efficiency, and cutting costs.
Long ago, back around 2007, we all were introduced to the 3rd Platform, with cloud as its core and solutions that offered anytime, anyplace access to application functionality. The platform was built on the technology pillars of mobile computing, cloud services, big data and analytics and social networking.
Many a times, data scientists and analysts input data and then train a model like logistic regression for classification. Most of the practitioners do not seem to spend enough time on this part of the output and instead focus only on the top level diagnostics consisting of coefficient summary, RMSE or classification matrix and may be the overall measure such as an R2 in the case of a linear regression or a C-Stat or an area under curve (AUC) for logistic regression. While not denying the value of these top level diagnostics, it is also important to check for model fit than just the estimation or classification error. This is when the deviance based diagnostics come handy.